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The Colorado PERA board of trustees' General Counsel, Gregory W. Smith, left, speaks with Executive Director, Meredith Williams, right, during PERA's annual retreat. The stories detail how the board spends thousands of dollars traveling the U.S. and the world going to pension conferences, while the staff has benefitted from loose vacation policies that let them cash out thousands of dollars in benefits at retirement - an option not available to rank-and-file state employees who are members of PERA. on Thursday, July 14, 2005. (RODOLFO GONZALEZ/ROCKY MOUNTAIN NEWS) ** Gregory W. Smith, Meredith Williams, (internet website)

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